On this page:
Federal Resources
- Small & Medium-Sized Enterprise (SME) Loan & Guarantee Program
- Canada Emergency Business Account
- Deferral of GST payments
- Deferred Filing of Federal Taxes & Collection of Tax Balances
Provincial Resources
- Deferred Tourism Levy Payments for Hotels
- Deferred Filing of Provincial Taxes & Collection of Tax Balances
- Deferral of Workers’ Compensation Board (WCB) Premium Payments
- Utility Payment Deferral
Banking Resources
- Business Credit Availability Program
- Mortgage Deferrals
- Additional Support for ATB Customers
- Additional Support for Credit Union Members
Additional Resources
- Shaw Free Wi-Fi for All & Free Channels for Shaw Customers
- Hotel Association of Canada Resources
- Additional Liquidity & Credit Resources
Property Closures
- Sample Property Closure Checklist
The federal and provincial governments are working on financial programs to help businesses manage at this time. Information that is being released is preliminary and we are awaiting more details, including how hotels can access these programs. The AHLA encourages you to talk to your lender(s) about how COVID-19 is impacting your business, and keep them informed about your financial situation.
We will update this list as more information comes available.
David Lund, the Hotel Financial Coach, has some tips about how hotels can manage during a financial crisis.
Federal Resources
Small & Medium-Sized Enterprise (SME) Loan & Guarantee Program
- $40 billion (combined program cap) in additional support and access to credit through your financial institution
- Loans of up to $6.25 million will be made available directly through businesses’ financial institutions and guaranteed by EDC
- Incremental credit of $6.25 million co-lent via financial institutions and BDC
Canada Emergency Business Account
- Implemented by eligible financial institutions in cooperation with Export Development Canada (EDC).
- $25 billion program will provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced, as a result of to the economic impacts of the COVID-19 virus
- Small businesses and not-for-profits should contact their financial institution to apply for these loans
- To qualify, these organizations will need to demonstrate they paid between $50,000 to $1 million in total payroll in 2019
- Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 25%(up to $10,000)
Deferral of GST payments
- Extend GST payment remittances until June 30, 2020 for:
- Monthly filers remitting amounts collected for the February, March, and April 2020 reporting periods,
- Quarterly filers remitting amounts collected for the January 1, 2020 through March 31, 2020 reporting period, and
- Annual filers, whose GST return or instalment is due in March, April, or May 2020, who must remit amounts collected and owing for their previous fiscal year and instalments of GST in respect of the filer’s current fiscal year
- Businesses in need of information about their particular obligations may contact the Canada Revenue Agency
Deferred Filing of Federal Taxes & Collection of Tax Balances
- Extends the federal tax filing deadline to June 1, 2020
- Canada Revenue Agency (CRA) will allow all taxpayers to defer until September 1, 2020, the payment of any income tax amounts that become owing on or after March 18, 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act
- No interest or late payment penalties
- Exception: Any taxpayers with taxes already due (for example, three months after a November 30 year-end) will not qualify for a deferral. Instalments that should have been paid up until today are also not covered by the deferral relief
- CRA will not contact SMEs (small- and medium-sized enterprises) to initiate post assessment GST/HST or income tax audits for the next 4 weeks
The communication provided is intended to be for informational purposes only and we strongly encourage businesses and individuals to consult a tax advisor to ensure their situation is assessed appropriately.
Provincial Resources
Deferred Tourism Levy Payments for Hotels
- Hotels can delay paying the tourism levy until August 31 for amounts that become due to government on or after March 27, 2020
- Hotels are still expected to file returns, and must continue to collect the tourism levy from guests staying at their properties during this period
- Payments deferred until August 31 will not be subject to penalties or interest
- Read more in the Government of Alberta’s special notice regarding remittances of Tourism Levy
Deferred Filing of Provincial Taxes & Collection of Tax Balances
- Extends the provincial tax filing deadline to June 1, 2020 for all Alberta Corporate Income Tax Returns due after March 18, 2020 and before June 1, 2020
- Alberta Treasury Board & Finance will allow all taxpayers to defer until August 31, 2020, the payment of any income tax amounts that become owing on or after March 18, 2020, or instalments coming due between March 18, 2020 and August 31, 2020
- Alberta will waive penalties and interest that would otherwise be payable in respect of these payments
- Exception: Any taxpayers with taxes already due (for example, three months after a November 30 year-end) will not qualify for a deferral. Instalments that should have been paid up until today are also not covered by the deferral relief
The communication provided is intended to be for informational purposes only and we strongly encourage businesses and individuals to consult a tax advisor to ensure their situation is assessed appropriately.
Deferral of Workers’ Compensation Board (WCB) Premium Payments
- WBC has deferred 2020 WCB premium payments for all private sector employers until 2021
- When invoicing resumes in 2021, small- and medium-sized employers (those with $10 million or less in insurable earnings) will only be required to pay 50% of their 2020 premiums. The other 50% will be paid by the Government of Alberta.
- By deferring premium payments, all private sector employers will benefit from having increased financial liquidity; roughly $350 million in premiums will be waived to support 183,000 small- and medium-sized employers during these difficult economic times
Utility Payment Deferral
- Residential, farm, & small commercial customers can defer bill payments for the next 90 days to ensure no one will be cut off from these services during this time
- Covers electricity and natural gas, regardless of the service provider
- Program only applies to commercial customers who consume less than 2,500 gigajoules or 250,000 kWh per year & who are having difficulty paying their bills because they have been laid off through actions taken by the government to manage the COVID-19 situation
- This is not a holiday or relief but a deferral program; this means that those Albertans that qualify will have to pay the deferred amount at some point in the future
- To see if your property qualifies, please contact our Manager of Membership & Operations, Michael Presniak, at 780.423.9239.
Banking Resources
Business Credit Availability Program
Provides more than $10 billion of additional support to businesses experiencing cash flow challenges through Export Development Canada (EDC) and the Business Development Bank of Canada (BDC):
- BDC Small Business Loan
- Maximum $100K in financing
- Business must:
- have been operational for the last 24 months
- have good credit
- be a Canadian company
- applicant must meet provincial age of majority
- The program does not make funds available to businesses which operate an onsite bar or lounge, however, restaurants would be acceptable
- Inquire with your banking institution to apply
- Working Capital Term Loan
- Up to $2M with flexible terms and payment postponements for up to 6 months for qualifying businesses
- Postponement of payments for up to 6 months, free of charge, for existing BDC clients with total BDC loan commitment of $1M or less
- Reduced rates on new eligible loans
Mortgage Deferrals
- Six largest banking institutions in Canada have made a commitment to work with personal & business banking customers on a case-by-case basis to provide flexible solutions to help them manage
- Currently includes a maximum 6-month payment deferral for mortgages & opportunity for relief on other credit products
- Done on a first come, first served basis and requires a direct call to your bank- the Government has a strong commitment from banks that they will be flexible
- We encourage you to talk to your lender to make arrangements, and keep them informed about your financial situation:
| BMO | 1-877-788-1923 |
| CIBC | 1-877-454-9030 |
| RBC | 1-800-769-2511 |
| Scotiabank | 1-833-315-4357 |
| TD | 1-888-730-0075 |
| National Bank of Canada | 1-844-394-4494 |
Additional Support for ATB Customers
- Small business customers, in addition to payment deferrals on loans and lines of credit, will be provided access to additional working capital
- For other business & agriculture customers, ATB will work with customers on a one-on-one basis and further solutions are being considered at this time.
Additional Support for Credit Union Members
- Credit union members will have access to a variety of programs and solutions designed to ease difficulties with loan payments and short-term cash flow
- Contact your credit union to work out a plan for your personal situation
Additional Resources
Shaw Free Wi-Fi for All & Free Channels for Shaw Customers
- Shaw has opened up Shaw Go WiFi, Canada’s largest WiFi network, to everyone — whether or not they are a Shaw customer. They also have no data caps on their internet plans
- All Shaw Cable and Shaw Direct customers have been given access to a number of channels for free during this period
- If you are having concerns about paying your monthly Shaw internet bill because of the COVID-19 situation, Shaw will work with you to find a flexible payment arrangement
Hotel Association of Canada Resources
Additional Liquidity & Credit Resources
Resources for Canadian Businesses (Government of Canada)
Hospitality Financial Leadership- What to Do in a Financial Crisis (David Lund, The Hotel Financial Coach)
FAQs for Reporting Financial Metrics (Smith Travel Research, PDF download)
Property Closures
In the unfortunate event that you decide to close your property, the AHLA has prepared a Sample Property Closure Checklist (Word doc file download) to assist you.